BOJ Holds Rates, Keeps Door Open to Further Hikes| Insight with Haslinda Amin 7/31/2026

Watch on YouTube ↗  |  July 31, 2026 at 07:11  |  51:05  |  Bloomberg Markets
Speakers
David Savage — Editor, The Block
Steven Chu — FX Strategist
Michelle Gass — Levi Strauss & Co. President and CEO
Alicia Garcia Herrero — Asia-Pacific Chief Economist, Natixis
Avril — Bloomberg Reporter

Summary

The episode covered a massive tech-led rally in Asian stocks, with Korea's KOSPI surging on AI optimism and strong U.S. hyperscaler earnings. The BOJ held rates steady but the yen weakened despite intervention, while guests debated the sustainability of yen support and the outlook for Japanese yields. Levi Strauss CEO highlighted the company's accelerating growth in India and other Asian markets as part of its $10 billion ambition.

  • Asian stocks rally sharply, with Korea's KOSPI up 14% driven by tech and AI momentum.
  • BOJ keeps rates at 1%, yen pares gains after suspected intervention, Governor Ueda's press conference awaited.
  • Steven Chu argues USD/JPY will keep rising as BOJ tightening too slow and Fed likely to hike.
  • David Savage sees buying opportunity in Samsung and SK hynix on strong AI infrastructure demand.
  • Michelle Gass says Levi's growth in Asia, especially India, is strong; DTC shift and women's expansion are key.
  • India Premier League brand value hits $20.6 billion, second only to NFL.
  • FIFA proceeds with forward enterprise plan despite UEFA boycott threat.
Ideas
Steven Chu FX Strategist 23:47
Buy USD/JPY as yen weakens further
The yen's weakness will persist because the dollar is unlikely to weaken significantly with the Fed likely to hike next, the BOJ is only hiking once every six months which is insufficient to narrow the rate gap, and unilateral intervention by Japan without U.S. and G7 coordination is ineffective. Therefore, traders will continue to push USD/JPY higher.
USD/JPY HIGH
Michelle Gass Levi Strauss & Co. President and CEO 30:06
Buy LEVI on strong Asia growth
Levi Strauss is seeing strong double-digit growth in Asia, especially India where it is opening its 500th store. The consumer is young and optimistic, embracing the brand head-to-toe. The company is shifting to a direct-to-consumer model (over 50% of business), expanding women's to 40%, and leveraging brand heritage, positioning it to achieve $10 billion revenue ambition and margin expansion.
LEVI MED
David Savage Editor, The Block 48:10
Buy Samsung, SK Hynix on AI demand
Strong AI infrastructure spending by US hyperscalers continues to drive demand for Asian chip suppliers, especially Samsung and SK hynix in Korea. Foreign buying is returning, and fundamentals remain intact, suggesting the recent sell-off may be a buying opportunity.
005930.KS 000660.KS MED
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This Bloomberg Markets video, published July 31, 2026, features Steven Chu, Michelle Gass, David Savage discussing USD/JPY, LEVI, 005930.KS, 000660.KS. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Steven Chu, Michelle Gass, David Savage  · Tickers: USD/JPY, LEVI, 005930.KS, 000660.KS